PayPal 3% or F&F?

[Clay Pigeon]

When dealing with someone you don't personally know on a internet transaction using PayPal, do you pay the 3% or do F&F like the seller wants?

 

[target64]

F and f gives you no recourse if there is an issue.

 

[bwframe]

Is this a new PayPal rule requirement that I'm not up on?

I have always used the gift $ to friend option for no charges to either party. Requested payments to be received that way also.

I have done this a lot. Please let me know if this has changed.

FYI - 100% satisfaction on the PayPal/shipper transactions that I have had with INGOers from all corners of the state.
Thank you friends!

 

[cmr13]

If it's friends and family I use Friends and Family. As target64 said, if you have an issue with a transaction and used F&F then you won't be able to go to PayPal and say "I never got this item" because you said it was a Friend or Family.

And don't use it for gun stuff, that's a great way to get your account locked and possibly lose money.

 

[Clay Pigeon]

Is this a new PayPal rule requirement that I'm not up on?

I have always used the gift $ to friend option for no charges to either party. Requested payments to be received that way also.

I have done this a lot. Please let me know if this has changed.

I'm a 17 year PP business debit guy myself, I dont believe anything has changed.
I bought something for around a 100 bucks from a seller that I didn't see any feedback on. And the seller wanted me to F&F and I though about it and when he didn't invoice me, I kicked up about 4% and sent him that included in the payment.
When tracking was sent along with tracking I was admonished and told I should have gone by the sellers rules and it should have been sent F&F.
We dont know each other....

I'm trying to understand the plus for the seller with F&F...

 

[Clay Pigeon]

F and f gives you no recourse if there is an issue.

Exactly, I couldn't figure out why the seller was frosted that I paid the 3%, and in the second email he told me its easier for the seller with F&F.
And then I remembered why I got a PayPal Business Debit card, I dont know if its still the same but years back one could only transfer to a bank account 500 a month with a regular PayPal account, with a business debit you can do 10 grand I believe....

 

[jkaetz]

In my experience if the seller wants PayPal, the seller pays the fees. F&F means your screwed if there is a problem with the purchase.

 

[bwframe]

I'm probably too trusting, but INGOers are my friends.

I have had no problems transacting with any INGOer with even a low post count that I could review.

I'm not at all suggesting that anyone work beyond their level of trust, but I have had numerous trades for a lot more than a hundred bucks.

 

[Cameramonkey]

Exactly, I couldn't figure out why the seller was frosted that I paid the 3%, and in the second email he told me its easier for the seller with F&F.
And then I remembered why I got a PayPal Business Debit card, I dont know if its still the same but years back one could only transfer to a bank account 500 a month with a regular PayPal account, with a business debit you can do 10 grand I believe....

Its $5,000/month and $500 per cash load transaction. Also $1,500/day max.

If you paid him regular and upcharged to cover the fee so that he still has the same net profit, my money is on he was going to scam you and is pissed he didnt think he could get away with it any more because now you had the fraud protections.

As others have said, F&F assumes you are GIFTING someone cash with no expectation of anything in return. No services, no good, nada. No reason for Paypal to have to insure your transaction. Because that is what the 3% is; an insurance policy premium.

 

[Clay Pigeon]

Its $5,000/month and $500 per cash load transaction. Also $1,500/day max.

If you paid him regular and upcharged to cover the fee so that he still has the same net profit, my money is on he was going to scam you and is pissed he didnt think he could get away with it any more because now you had the fraud protections.

As others have said, F&F assumes you are GIFTING someone cash with no expectation of anything in return. No services, no good, nada. No reason for Paypal to have to insure your transaction. Because that is what the 3% is; an insurance policy premium.

I figured it had changed over the years.

Yes I paid regular and added more than was necessary to cover the 3%

Exactly

 

[marvin02]

If you want to avoid PayPal altogether Amazon gift cards make a nice form of payment to those you trust. No protection on the transaction, probably better for small things.

I guess you just have to pick which evil corporation you want to do business with.

 

[sugarcreekbrass]

When I started my business, I decided to go with PayPal Business. I liked the extra piece of mind with a transaction, and the 3% is not much. I want customers to feel safe when dealing with me. I have had a couple that offered to do F&F.

 

[bwframe]

If you want to avoid PayPal altogether Amazon gift cards make a nice form of payment to those you trust. No protection on the transaction, probably better for small things.

I guess you just have to pick which evil corporation you want to do business with.

Our transaction went very well sir. Thank you!

An education of another means of payment between friends that have never met.

 

[wabash]

on another forum, i declined the suggestion to pay f&f. i offered to add extra to cover the fees.

i did that to protect my own paypal account. did not want have it locked.

 

[zer0day]

As cmr13 stated, DO NOT USE PayPal for anything firearm related. They WILL close your account without notice to you and hold your money for 6 months! Read their user policy carefully. No gun and/or gun related items, no tobacco, tobacco related items, including vape and cbd, no alcohol or alcohol related items.

I speak from experience of my own ignorance. I was a 10+ year paypal user and got my account closed for buying a trigger for my VP9 from HKParts. Paypal stopped connecting me with customer service reps and started trolling me by arranging call backs at 2 and 3am.

They will hold your money in a pool that they use for investments on behalf of the company. They may state they will review your account at 90 days and possibly finalize everything for you but its the same as when youre a kid and youre parents tell you "maybe" when you ask for things.

Also, Venmo is a Paypal company. Same rules apply. Don't get caught on them either.

For now I use Cashapp but am very careful of what address i type in as you wont get a transaction reversed if you send it to the wrong person. Cashapp offers a debit card too. Easy to get and customizable too. I've bought bottles of bourbon and recently a subscription for a VPN with it. No issues so far.

Zelle is useful and part of most financial institutions. It uses your phone number or email to get you signed up. I have not used it in a long time and have not gone through their agreements.

As with anything dealing with your money, read the damn agreement! Don't just click accept. Remember what happened in South Park?

In closing, Paypal can burn to the ground. Musk sold them to bring us Tesla and SpaceX along with Boring Company and NerualLink. Once he did, they turned to dog doo. eBay bought them at one point and claim they have spun it off into a separate company. I'm highly doubtful of that.

 

[marvin02]

When I started my business, I decided to go with PayPal Business. I liked the extra piece of mind with a transaction, and the 3% is not much. I want customers to feel safe when dealing with me. I have had a couple that offered to do F&F.

Many have had poor experiences with PayPal, I hope that you have an alternate method for your customers that don't want to deal with PayPal. I will always look for other options if a business/seller will only accept PayPal.

 

[marvin02]

If you want to avoid PayPal altogether Amazon gift cards make a nice form of payment to those you trust. No protection on the transaction, probably better for small things.

I guess you just have to pick which evil corporation you want to do business with.

Our transaction went very well sir. Thank you!

An education of another means of payment between friends that have never met.

Many retailers now have electronic gift cards you can send by email, it's not limited to Amazon. Best Buy and Home Depot for example. Useful for smaller transactions with those you trust.

 

[DoggyDaddy]

Many retailers now have electronic gift cards you can send by email, it's not limited to Amazon. Best Buy and Home Depot for example. Useful for smaller transactions with those you trust.

What if I don't want or need anything from Amazon, Home Depot or Best Buy? What if I want the money?

 

[marvin02]

What if I don't want or need anything from Amazon, Home Depot or Best Buy? What if I want the money?

Then you have to use another method. The eCards generally carry zero fees unlike many methods to transfer cash.

 

[bwframe]

I'd guess there are more and more methods to send money to to friends, with the pandemic especially. I've not even looked into Chase, Google, Samsung, Western Union, etc.

As mentioned above, the deal/payment with Amazon gift card went very well for me. I cannot thank marvin02 enough for the gadget he sold me that is used nearly every day.

I've never had an issue with PayPal. That said, I have always used it to send money to friends. I never attempted to violate PayPal's published company rules. Nor did I expect PayPal to somehow insure that the party on the other end followed through with the private deal that they had nothing to do with.

I'm not saying that sending money to a friend through PayPal is for everyone. However, I have had occasion to trust distant INGO friends that were only known by their post history. I have sent money to these friends, sometimes a fairly large amount of money. Yes, there was some risk to me that these INGO friends would not follow through with their end of the deal.

I understood that risk and still took it, as have other INGOers with me.

It was none of PayPal's business why I was sending money to a friend, nor is it their responsibility to back up any private deal that had nothing to do with them.